1049/1057 N Monroe St · Monroe, MI 48162

$249,900

2 bd · 1.0 ba · 1,824 sqft · MultiFamily public records · 10 Days on market

Built 1943 3,485 sqft lot $137/sqft · 36% above area Est $183k · 36% over ↓ 13% since listing

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 5 units. estimate disagrees with records

Listing remarks MLS

Well-maintained side-by-side full brick duplex . Maintenance-free exterior with a beautiful yard and plenty of parking. Conveniently location, close to amenities. A great investment or owner-occupant opportunity! Each unit is approx. 912 sq ft. 2 bedrooms, 1 full bath. Each unit has its own full basement with laundry hook up. Convenient location, nice spacious corner lot. Each unit has its own utilities hook up. City certs up to date and current. 1049 has a new furnace installed 2/2026 Some interior pics have been virtually staged.

Key facts

• 3,485 sq ft lot
• Built 1943
• Listed 10 days

Property features AI

Finance

• Other: Publicly maintained road; Zoned residential; Lot approximately 80 x 51 (0.08 acres); Subdivision: ST MARYS MANOR; Cross street: N. Monroe St / Stockton
• Financial info: Two units each reporting $800 actual rent

Exterior

• Parking: Assigned parking
• Utilities: Public water; Public sewer
• Home design: Residential income property; Multifamily; Two levels; Facing information not provided; Entry level not provided
• Construction: Block foundation
• Exterior features: Front porch; Shed(s)

Interior

• Kitchen: Oven; Refrigerator; Range
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating (natural gas); Separate meters
• Interior features: Gas water heater; Oven; Refrigerator; Range; Block basement

What this means for you Summary

Snapshot

• This is a 5 × 2-bed/1.0-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive. Per door: $487/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $250k).
• Cap rate 18.0% vs local median 4.0% in Monroe — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 83/100 on livability (#51 in MI, #1,034 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime D+, amenities D+.
• Monroe Public Schools (suburban): math 24% / reading 47% proficiency, ranked #278 of 540 in MI (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 123 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 264 units permitted in Monroe County in 2024 (40 in 5+ unit buildings).
• At $5,082/mo this rent would consume 90% of the median local household income ($68k/yr) (locally 828% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Monroe County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 19y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $217k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $249,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.03% ✓
• Cap rate: 17.98%
• Cash-on-cash: 41.75%
• DSCR: 2.86
• GRM: 4.1

CMA / ARV

• ARV (median comp): $183,451
• List price: $249,900
• Delta: 36.22%
• Verdict: OVERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
919 Michigan Ave	0.60mi	3/3.0 (+1)	1,560 (-14%)	18mo	$177,500	$114	20

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.4%
• Equity multiple: 2.64×
• Total profit: $114,557
• Equity at exit: $37,261

10-year hold

• IRR: 44.9%
• Equity multiple: 5.28×
• Total profit: $299,370
• Equity at exit: $21,607

Cash invested: $69,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Michigan: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; mixed climate; Detroit/AA have some protections.

Methodology + full state rankings →

ZIP-level market 48162

• Active inventory: 123
• Price-to-rent: 20.5×

Monthly cashflow live

• Estimated rent: $5,082 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$165 /mo · $1,986/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,067
• Net cashflow: $2,435

Break-even live

Break-even rent $2,000

Max offer price $249,900

Occupancy floor 47%

Sensitivity live

Price	-10% $2,576	-5% $2,505	+0% $2,435	+5% $2,364	+10% $2,293
Rent	-10% $2,033	-5% $2,234	+0% $2,435	+5% $2,635	+10% $2,836
Rate	-1.0pp $2,561	-0.5pp $2,498	base $2,435	+0.5pp $2,370	+1.0pp $2,304

5-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 5× units	2	1	$5,080
Total (5 units)			$5,082

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1267 Huber Dr Monroe, MI	2.0	2.0	1830	$1,900	$1.04	44d	1	0.96mi
1318 Frank Dr Monroe, MI	3.0	1.0–2.5	1300	$1,645	$1.27	5d	6	1.28mi

Listing history 6 events

1. 2026-05-15
   status Pending 538-char remark

   Show marketing remark (538 chars)

   Well-maintained side-by-side full brick duplex . Maintenance-free exterior with a beautiful yard and plenty of parking. Conveniently location, close to amenities. A great investment or owner-occupant opportunity! Each unit is approx. 912 sq ft. 2 bedrooms, 1 full bath. Each unit has its own full basement with laundry hook up. Convenient location, nice spacious corner lot. Each unit has its own utilities hook up. City certs up to date and current. 1049 has a new furnace installed 2/2026 Some interior pics have been virtually staged.

2. 2026-05-15
   status Pending 538-char remark

   Show marketing remark (538 chars)

   Well-maintained side-by-side full brick duplex . Maintenance-free exterior with a beautiful yard and plenty of parking. Conveniently location, close to amenities. A great investment or owner-occupant opportunity! Each unit is approx. 912 sq ft. 2 bedrooms, 1 full bath. Each unit has its own full basement with laundry hook up. Convenient location, nice spacious corner lot. Each unit has its own utilities hook up. City certs up to date and current. 1049 has a new furnace installed 2/2026 Some interior pics have been virtually staged.

3. 2026-05-05
   listed $249,900 Active 538-char remark

   Show marketing remark (538 chars)

   Well-maintained side-by-side full brick duplex . Maintenance-free exterior with a beautiful yard and plenty of parking. Conveniently location, close to amenities. A great investment or owner-occupant opportunity! Each unit is approx. 912 sq ft. 2 bedrooms, 1 full bath. Each unit has its own full basement with laundry hook up. Convenient location, nice spacious corner lot. Each unit has its own utilities hook up. City certs up to date and current. 1049 has a new furnace installed 2/2026 Some interior pics have been virtually staged.

4. 2026-05-05
   listed $249,900 Active 538-char remark

   Show marketing remark (538 chars)

   Well-maintained side-by-side full brick duplex . Maintenance-free exterior with a beautiful yard and plenty of parking. Conveniently location, close to amenities. A great investment or owner-occupant opportunity! Each unit is approx. 912 sq ft. 2 bedrooms, 1 full bath. Each unit has its own full basement with laundry hook up. Convenient location, nice spacious corner lot. Each unit has its own utilities hook up. City certs up to date and current. 1049 has a new furnace installed 2/2026 Some interior pics have been virtually staged.

5. 2009-07-23
   historical
6. 2007-11-19
   listed $775

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $1,986 · $165/mo
• Projected year-2 tax: $2,917 · $243/mo
• Expected delta: +$931/yr (+$78/mo · 46.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $60,984
• − Mortgage interest: −$13,998
• − Property taxes: −$1,986
• − Insurance: −$1,250
• − Repairs & maintenance: −$4,879
• − Management: −$4,879
• − Depreciation: −$7,270
• Taxable income: $26,723
• Est. tax owed @ 24.0%: −$6,414
• After-tax cash flow: $22,802/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Monroe Public Schools
• NCES district ID: 2624150
• Math proficiency: 24% ▲ 3.00%
• Reading proficiency: 47% ▲ 12.00%
• Median HH income: $46,437
• Composite: 30.33/100
• National rank: #6269
• State rank: #278 of 540 in MI

Livability — Monroe

• Score: 83/100
• State rank: #51
• US rank: #1034

Category grades

Amenities D+ Commute A+ Cost of living A+ Crime D+ Employment C- Housing A+ Health & safety A+ User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monroe, MI
• County: Monroe County · 54,460 people
• City population: 54,460
• Metro: Monroe, MI
• Population (ZIP): 28,156
• Household income: $67,876
• Rent vs Own: 23.4% rent · 76.6% own
• Severe rent burden: 828.0

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 144,439 people
• By 2030: 140,033 · -3.1%
• By 2040: 128,408 · -11.1%
• By 2050: 115,024 · -20.4%
• By 2075: 87,273 · -39.6%
• By 2100: 63,110 · -56.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 4% Black 3% Hispanic / Latino 3%
• Common ancestry: Lithuanian 7% Romanian 6% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Monroe

• 2024 margin: Strong R (+27.1) · D 35.7% · R 62.9% · Other 1.4%
• 2008→2024 swing: -31.5pp toward R · 2008: 4.3pp · 2024: -27.1pp
• All cycles: 2024: R+27.1 2020: R+22.6 2016: R+22.1 2012: D+1.0 2008: D+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -171.11%
• Current HPI: 138.1795
• Rent YoY: —
• Metro: Monroe, MI
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

Industry mix (Fortune 500 HQ in MI)

Industry	F500 HQs	Revenue
▸Automotive Parts	3	$48B
▸Automotive	2	$372B
▸Chemicals	1	$45B
▸Automotive Retail	1	$29B
▸Healthcare / Medical Devices	1	$23B
▸Automotive Technology	1	$20B

Price history

-13.2% since first listed

8 events — show timeline

• 2026-06-15 Sold (MLS) $217,000 MiRealSource-MiMLS
• 2026-06-15 Sold (MLS) $217,000 REALCOMP
• 2026-05-15 Pending — REALCOMP
• 2026-05-15 Pending — MiRealSource-MiMLS
• 2026-05-05 Listed $249,900 MiRealSource-MiMLS
• 2026-05-05 Listed $249,900 REALCOMP
• 2009-07-23 Listing Removed — MiRealSource-MiMLS
• 2007-11-19 Listed $775 MiRealSource-MiMLS

Property tax history

-2.7%/yr

Latest (2025): $1,986 · -45.1% YoY. Source: county tax records.